The Most Prestigious Award in Korean Insurance
Established to Honor and Advance the Spirit
of Kyobo Life Founder Shin Yong-ho
The Daesan Shin Yong-ho Memorial Foundation announced on December 22 that Geunok Ryu, Professor Emeritus at Seoul National University of Science and Technology, and the Korea Insurance Development Institute have been selected as the winners of the 20th Daesan Insurance Award.
20th Daesan Insurance Award Winners. From left, Geunok Ryu, Professor Emeritus at Seoul National University of Science and Technology, Chang-eon Heo, President of the Korea Insurance Development Institute. Daesan Shin Yong-ho Memorial Foundation
The Daesan Insurance Award was established in 2006 to honor and further the spirit of Daesan Shin Yong-ho, the founder of Kyobo Life Insurance and a pioneer in the Korean insurance industry.
This is the most prestigious award in the domestic insurance sector, recognizing individuals and organizations that have contributed to the advancement of the insurance industry and insurance academic research in Korea.
Professor Emeritus Ryu, who received the Grand Prize in the Insurance Academic Research category, is a distinguished scholar who has devoted 27 years to nurturing future generations and conducting research, thereby broadening the theoretical horizons of insurance studies.
He served as president of the Korea Insurance Academic Society and the Risk Management Society, providing theoretical solutions to major issues such as the listing of life insurance companies and the introduction of bancassurance, thus leading institutional advancement.
Through his publications, including "Insurance That Changed the World," he has redefined the social value of insurance and helped spread a sound insurance culture.
The Korea Insurance Development Institute, which won the Grand Prize in the Insurance Industry Development category, is a key institution that has laid the foundation for the Korean insurance industry by ensuring fair rate calculations and establishing essential infrastructure.
Recently, it successfully implemented the "Silsun24" system, a paperless insurance claim service, enhancing consumer convenience and advancing the industry's decision-making framework through data-driven systems.
Namgoong Hoon, Chairman of the Foundation, stated, "It is thanks to the dedicated efforts of those who have steadfastly upheld the value of insurance amid internal and external uncertainties that the insurance industry has achieved its current growth. I hope this award will serve as a valuable milestone toward a better tomorrow for all insurance professionals who quietly fulfill their duties in the field."
The awards ceremony will be held at 6 p.m. on December 30 at the President Hotel in Jung-gu. The winners will receive a cash prize of 50 million won and a trophy.
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